Rolled Dec 134 puts out to Mar 2017 133 puts @ .12 credit

Continuing to collect the weekly dividend against the ITM puts…

#ShortCalls Sold TLT DEC 2 2016 121.0 Calls @ .73

These types of positions aren’t as bad as they look. For example, here the short puts are 13 dollars ITM but I’ve collected 6.43 in weekly premium since starting the position. As long as I can keep collecting 75 to 80 cents a week and gradually rolling down the puts it should work out. I look at it like collecting a 2 percent monthly dividend…24 percent dividend yield ain’t bad!